FMO DEVELOPPEMENT : revenue, balance sheet and financial ratios

In 2024, FMO DEVELOPPEMENT achieves revenue of 64 k€. Revenue is declining over the period 2017-2024 (CAGR: -39.7%). Slight decline of -7% vs 2023. After deducting consumption (0 €), gross margin stands at 64 k€, i.e. a rate of 100%. This ratio measures the ability to generate value from commercial activity. EBITDA (= Gross margin - Personnel expenses - Taxes) reaches 39 k€, representing 60.6% of revenue. Warning negative scissor effect: despite revenue change (-7%), EBITDA varies by -35%, reducing margin by 25.8 pts. This reflects costs rising faster than revenue. This high EBITDA margin provides strong self-financing capacity and resilience to uncertainties. Ultimately, net income (= EBIT +/- financial result +/- exceptional - corporate tax) amounts to 1.6 M€, i.e. 2500.1% of revenue. This profit can be retained or distributed to shareholders.

The debt ratio (= Financial debt / Equity x 100) stands at 12%. This very low level reflects a solid financial structure, offering significant room for future investments or acquisitions. Financial autonomy (= Equity / Total assets x 100) reaches 88%. This high autonomy means the company finances most of its assets through equity, a sign of strength. Debt repayment capacity (= Financial debt / Cash flow) indicates it would take 0.3 years of cash flow to repay all financial debt. This short period demonstrates excellent debt sustainability. Cash flow represents 1169.8% of revenue. Cash flow measures resources generated by operations, available for investment and debt repayment. This high level provides strong self-financing capacity.

The liquidity ratio (= Current assets / Current liabilities) stands at 3650.28. Concretely, the company has €2 of liquid assets for every €1 of short-term debt: no cash risk within 12 months. The interest coverage ratio (= EBIT / Interest expenses) is 23.1x. Operating income very largely covers interest expenses: high safety margin.

Working capital requirement (WCR) measures the cash timing gap between customer collections and supplier/inventory payments. Average customer payment term: 3 days (formula: Customer receivables / Revenue incl. VAT x 360). Supplier term: 114 days. Excellent situation: suppliers finance 111 days of the operating cycle (retail model). WCR is negative (-211 days): operations structurally generate cash. Notable WCR improvement over the period (-103%), freeing up cash.

Based on 169 transactions of similar company sales in 2024, the value of FMO DEVELOPPEMENT is estimated at 2 319 417 € (range 694 717€ - 4 205 752€). With an EBITDA of 39 008€, the sector multiple of 5.6x is applied. The price/revenue ratio is 0.81x (in line with sector norms). This multiples method compares the actual sale price of similar companies to their financial indicators (Revenue, EBITDA, Net Income). It provides a market-based indicative estimate.